Tag: student loan debt

Plans which permit non-safe harbor hardship distributions could theoretically approve a participant’s hardship distribution request for the repayment of student loans, but those relying on the safe harbor cannot.

Franklin Templeton last year launched the Spryng crowd funding platform for college savings; at this point the firm has not conducted a systematic review of profile performance, but anecdotally, gift givers have typically been a friend or family member of the account owner or beneficiary, though other examples of giving have demonstrated the broad power of the platform.

While employees are grappling with things like higher health care costs, financially supporting other family members and debt, a study from PwC finds they are not always taking the right steps to manage these issues and to invest and save for retirement adequately.

Student debt management is a complex and delicate issue that has a significant impact on employees’ broad financial wellness—but providing support can be straightforward from the plan sponsor perspective.

MARKET MIRROR

Yesterday, the Dow lost 125.44 points (0.50%) to finish at 25,187.70, the NASDAQ was down 19.40 points (0.25%) at 7,819.71, and the S&P 500 decreased 11.35 points (0.40%) to 2,821.93. The Russell 2000 fell 11.49 points (0.68%) to 1,675.32, and the Wilshire 5000 closed 137.98 points (0.47%) lower at 29,428.86.

The price of the 10-year Treasury note was down 1/32, increasing its yield to 2.875%. The price of the 30-year Treasury bond decreased 9/32, bringing its yield up to 3.046%.